A new survey shows that a large percentage of students preparing for, or starting their first year of college are not prepared for managing and paying for the cost of college. The Junior Achievement USA sponsored study data shows that 52% of high school junior, 39% of high school seniors, and 34% of college freshman do not feel prepared to handle their new financial responsibility. The research also reveals why college-bound and college-age teenagers likely feel ill-prepared. The number of teens with less than $1,000 in their college savings accounts is staggering – 39% of juniors, 30% of seniors, and 29% of college freshmen. Well over half of each class agrees they have not done enough research on how to pay for college. And, a large majority of each class has either never spoken to their parents or only spoken to their parents once about paying for and managing the cost of college.